Talking down a seller

[Steven Haughey]

Usually not an issue, but this multifamily property I'm looking at is priced pretty high. 

It's a 2b 2 ba Duplex (1-1 on each) for 175,000

I'm a Realtor and my CMAs are coming around 138,000 on the high end. I can take a larger hit as an investor, however, I need to get around 30,000 shaved off asking price. What are some tips for talking down sellers when almost 20% of the asking price needs to drop?

Thanks in advance! 

[Joe Aiola]

@Steven Haughey you got great advice on this thread from @Jonathan Greene, @Kristina Anderson, @Jeffrey Donis, and @John Teachout. The only thing I would add is to follow up after you submit your offer (if they reject it). A lot of times investors will submit their offer and then never circle back. As properties sit on the market, sellers tend to get more motivated. I would submit your offer then check in every 2 weeks or so to let them know you're still interested in buying.

Hope this helps and best of luck!